CURRENCIES: 06/24/09 FOMC MEETING TODAY. Higher close yesterday for the Japanese yen, Aussie dollar, Euro Fx, Swiss franc, British pound and Canadian dollar while lower for the dollar index. The euro closed sharply higher almost ending my sell signal but not quite. Still the euro is starting to turn back higherwhile the franc broke out of its bull triangle convincingly to the upside.The yen's close gave me a buy signal as seen below. The Aussie dollar closed higher after trading below 7800 again before rallying again to settle at 7902 basis the September contract. A close below 7800 would give me a sell signal unless the chart formation changes before that happens.The Canadian dollar settledsharplylower while forming an even larger possible top while making its lowest low and close since May 20th. The pound also settled higher still acting like it will test its highs. The dollar closeddownagain this time breaking out of its bear triangle to the downside. I am holding Buy Signals for the Franc, Aussie Dollar, Yen and Pound; Sell Signals for the Can Dollar and Euro. Please feel free to contact me for details.
FINANCIALS: 06/24/09 FOMC MEETING. Higherclose on Tuesday for theeurodollar,bonds and notesonce again. The eurodollar is still in an uptrend making its highest close since June 3rd acting like it willtest its highs. The bonds have given me a buy signalbut not thenotes at this time.
ENERGIES: 06/24/09 API/EIA ENER GY STOCKS.The crude and heating oil along with the rbob made new recent lows before rallying to settle higher while natural gas closed lower again.All of the energies were hurt technically byMonday's action and I would lighten up or at least tighten up stops. My buy signals are still in place for the long term but look shaky at this time.Natural gas has beentrying to catch up while basing since the beginning of April but still in a long term downtrend overall. I still maintain Buy Signals for crude, heating oil and rbob.
GRAINS: 06/24/09 Higherfor rough rice, oats,soybeans, soymeal, soyoil, corn, Minneapolis , Kansas City and Chicago wheat. All of thewheat continue to look very weak with Chicago making anew recent low again but closing higher this time. Cornsettled higher but continues to look lower overall. Rough rice settledhigher still in a trading range between 12000 and 13000continuing to hold the lower end at this time. Its long term trend has been down since last September however. Oats closedhigher while now in a bear pennant looking lower overall but stillin agood support area.The bean complex closedhigher this time but the beans and meal are in small bear pennantswith the former in a good support area.Oiljust continues to lower weak overall.I am bearish on Beans, Meal, Oats and Minneapolis Wheat. Please feel free to contact me for details.